Brazilian oil company had started in 2020 the attempt to alienate 100% of its participation in the South American country
It announced it on Friday (7.mar.2025) the closure of the project of sale of 100% of the shares held by its subsidiary GDP BV (Petrobras International Braspetro BV) at PECOCO (Petrobras Colombia Fuel). This is the statement (PDF – 87 kb).
The sale of his participation in Colombia was part of the Brazilian oil company’s divestment plan still started in the government of the former president (MDB) and continued by the former president (PL). Petrobras began the alienation of Colombian actives in 2020.
According to Petrobras, the withdrawal in selling assets in Colombia is “In line with the current strategic directions, which consider the portfolio diversification profitably and the company’s perishableness”.
In Colombia, Petrobras operates, through Pecoco, in the distribution and marketing market of fuels and lubricants, with service stations, lubricant factory and fuel distribution bases in the country’s main markets.
Throughout the divestment plan, Petrobras has sold refineries and left the fuel distribution sector. The argument was that the state -owned company should focus its resources on raw oil exploration and production.
In Brazil, Petrobras has not been in the distribution sector since 2021, when all its participation in the BR Distribuidora brand in favor of.
Since 2023, the state -owned company signals a return to the distribution market, but still without concrete measures. By the agreement with Vibra, Petrobras cannot act in the segment by 2029.
However, Petrobras has already informed Vibra that it will not renew the granting of “Petrobras”, “BR Aviation”, “Podium” and “Grid” brands. Viber has been holding brands since 2019, when most of BR Distribuidora’s actions.
